Posted on 05/20/2019 2:27:07 PM PDT by RightGeek
The Australian stock market has soared to an 11-year high on the back of the Coalition's shock election win.
Investors reacted positively to Prime Minister Scott Morrison remaining in office, with the S&P/ASX 200 index rising by 97 points to 6,462.3 points during early trade on Monday.
This was the highest point since December 14, 2007, before the the global financial crisis worsened and a month after Kevin Rudd was elected Labor PM.
...
Investors appeared to be buoyed at voters rejecting Labor's plan to deprive share-owning retirees, who don't pay income tax, from receiving franking credits.
They also rejoiced at the Opposition losing the May 18 election, after vowing to scrap negative gearing for existing properties and halve the capital gains tax discount from 50 per cent to 25 per cent.
CommSec chief economist Craig James said investors, who had expected a Labor victory, were relieved there would be no major tax policy changes following the re-election of a Coalition government for a third consecutive term.
(Excerpt) Read more at dailymail.co.uk ...
MAGA!
Notice the commie media didnt cover this story..gee I wonder why/sarc
MAGA
Making Outback Steakhouse and Foster’s Beer Great Again
The voters rejected Global Bullshitism and voted FOR coal...BOOM!
I hear Biden and Obama are ready to take credit!
Economies breathe a lot easier without commies putting their boot on its throat!
The markets seem to like the right! :)
LIBs are malignancies on civil societies and businesses everywhere.
Apparently their polling system is extremely biased if this is a 'shock' result.
I would lie to pollsters out of principle.
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